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Your World With Neil Cavuto

News/Business. Money tips from Wall Street. New. (CC)

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Us 7, America 5, Washington 4, Apple 4, Virginia 4, Lifelock 3, Medicare 3, Sandy 2, Louisiana 2, Chris Christie 2, Garrett 2, Rodger 1, Dric 1, Django Unchained 1, Hansel 1, Tadpole 1, Bobby Jindal 1, Obama 1, Nancy Pelosi 1, Ben Affleck 1,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    January 14, 2013
    1:00 - 1:59pm PST  

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>>. >> shep: and then there is this, a squirrel that can water ski. its mainstay for light-hearted television news stories and got a mention in anchor man. you can thank lieu ann best for the show. she has been training school for more than 30 years. he teaches them to water ski and perform other stunts. latest appearance was at a boat show. if you are lucky enough to live in the milwaukee area, you can see them live next week at the milwaukee boat show. i think it's wonderful.
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>> shep: not really. we're not responsible for the content of this program. see you tonight, all right. here comes cavut. >> neil: they hated guns, but apparently have no problems starring in movies. that glorify them. welcome. i'm neil cavuto. and fox on top of this. calling for an end to gun violence but appear in films that have gun violence. >> incredible action, can't look away but can't take your eyes off of violence. >> neil: that is jamie foxx, he was praised on django unchained.
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>> he is a rambunctious. >> indeed he is. the latest film, hansel and gretal have them firing on all cylinders. >> we vnt haven't stopped there. >> neil: and neither has lady gaga, showing off her own double shooters. [ laughter ] >> neil: as the gun debate rages across the country, monica crowley, not surprised about it. none of this would bother me but coming from a hollywood, ran out on a limb to say the president has to do something about guns. >> right. was i going to wear my gun bra on the cavuto show but i thought otherwise. [ laughter ]
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>> the crux of the issue the hypocrisy here, these people make a lot of money and glorify violence. they are blown away people on the screen and win awards and yet come out in a political stance and we want stricter gun control measures. a lot of these celebrities have been very quiet over the last two weeks or so since joe biden and the white house task force to sit down and hammer something out. they have been incredibly quiet on the score. when it comes to the second million they have no problem attacking the second amendment but when the first amendment, how they make their living, self-expression, creativity, they don't want to crack down to o. that it's better to keep their lips zipped for now. >> neil: they are open to saying take or guns but don't mess with our movies? >> that is right. don't mess with the money.
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all of hollywood as i learned working there is all about one thing first -- money. these movies sell. the violence and tv all sells. by the way, some of these people also appear in these violent video games and so forth. that we cannot touch. these industries -- but lockstep and hypocrisy, do something about the guns. they have no interest in it. if they did because the american people believe and understand, look, the violence we've got a problem with. security in schools. you have a problem with not just guns but problem with mental health. these issues, we have to pull out of pockets and knee-jerk thing on gun gos. it's the same thing you saw last night on golden globes where the foreign press association, all 26 them -- decide that argo should win for best picture and
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drama and ben affleck but he is not nominated for the oscars because it's not politically corrected. it's the same thing with katherine bigelow who should be the best director. this artistic stuff but we'll be political but in the end if it is about money. >> neil: to argue in their defense, you know there is a rating system for movies and games. there is an open field for getting the most dangerous guns and that makes the difference. >> they do tend to argue that. rating system is theirs so kids under a certain age can't get into the movies but we know the culture is so widespread. >> and television it isn't raid and you can see this all times of day. so much of this hypocrisy gets down to their personal life. these are celebrities and public
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figures. i guaranteed the security person is packing heated. they have armed guns around them all the time, the idea they are arguing law abiding citizens should not have that right to protect themselves, their life and property. >> neil: the gun makers are making money, but not so when it concerns the money they are making. >> by the way. let me tell you something. what they do, because they keep needing to compete. the violence gets more and more graphic and worse. there we're not having a discussion, a national discussion about what this does violence desensitizing our children. that we can't have. this is why i'm really concerned about what i call hip pocket acted virtually, this is our
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thing. we'll pull it out because we had it on our agenda. at the same time you don't want to have something like this. every director is trying to out do the last film and this is tarantino is an industry of the most incredible violence. i happen to think she brilliant. >> neil: where did lady gaga come in to this. >> i can speak to this. lady gaga ripped this whole routine from madonna. madonna has been on tour and she has guns at the cente remember, originally she had a bullet bra. she had a bullet bra, but on the latest tour she used guns as a common terry on this explosive use of violence and imagery in movies. lady gaga is apparently trying do the same thing but not particularly creative because she did rip it off from the
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material girl. >> i like lady gaga, ma non donna was being subtle. the point is. >> next time i'll have my gun bra. >> neil: i'm sure you'll keep abreast of it. >> so to speak. >> you want to give me the authority. so they don't have to take these tough votes. put the responsibility on me to raise the debt ceiling. >> four top democrats that he should take it. sending a letter to the president. you have to take lawful steps to make sure the america doesn't trigger a global crisis. that is different story from seven years ago when the same four, each of them, voted against raising the debt limit.
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byron york has hit his limit. i think that is called hypocrisy which seems to be our theme but what do you make of it? >> that is one word you are hearing a lot. not only did they vote against it. harry reid, dick durbin, charles schumer and patty murray plus their fellow senators barack obama and joe boel in 2006 voted against increasing the debt limit. what senator obama said, it was very serious argument about how borrowing was killing america. the money spent on interested was taking money away that that could be spent on infrastructure disaster relief. the money we borrowed from foreign countries was making us vulnerable to the whims of foreign leaders whose prerogatives is not the same as
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ours. borrowing weakenings us and i will not vote to increase the nation's debt limit. >> neil: he argued today you are a better fact checker -- he argued today that he never would have put our financial standing on the line. he would not have dric us to the brink. is that true? >> this is an argument that you hear a lot from the democrats and the president defenders. they say back in 2006, democrats were in the minority. they couldn't have blocked the debt ceiling ineven if they want to. >> neil: then why do it? >> they wanted to a point about spending. they thought republicans were vulnerable on that. >> neil: that is like having your cake and eat it, too. we didn't think it would pass in the house but we're standing our ground now, you are arguing with republicans who are in the minority? >>ly say i found a new instance
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today from november of 2009 when democrats did control the senate. a number of democrats like dianne feinstein, mark warner, kent conrad wanted to create a commission to study entitlements they thought was a serious issue. they threatened not to vote for a debt increase unless they got their commission. this was democrats as a majority party. >> neil: so, where is all this going? obviously the president was trying to frame this today if we have a debt ceiling quagmire, it's all on the republicans and not on the democrats, even though details had the same position when george push was president pulled the same stunt. so now what? >> we have to see how united the republicans are. the government shut the 1990s. newt gingrich this kind of tactic was a dead loser for republicans.
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in the end i think most of them believe that the end of this the debt ceiling is going to be raised. what happens in between is a big question, but there are divisions inside the republican party. all of them want to cut spending, but some believe that the debt ceiling is risky and others want to see what happened. >> neil: the president talked about it would lead to market panic and financial armageddon. 9 fact we have been in this four dozen times since world war ii, isn't that repeated behavior to this right now. >> it is, but a situation in which the markets look at the fights from the outside appear to be ritualized fights and markets thing, they are going to raise the debt ceiling and we don't need to listen until we do. >> neil: well put.
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thank you very much. and the debate is heating up. the this ceo is ready to shake things up. how he is pushing washington and both sides to get off the talking points and just get to work. machine. machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness,
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>>. >> neil: as washington continues to fight over our dough, he is trying to get both sides to break bread. ron, good to have you back. the good thing about all through the campaign here, you had a thing on both parties and the fact they were not meeting on these crucial issues. what do you want them to see them do right now? >> we a to have real solutions at no labels. to demand of our leaders real solutions as opposed to this
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bickering kick the can down the road and blaming each other. >> neil: what if we take it to the brink. president was arguing as you might have heard, it will be on republicans for being so object sti national? >> think it's part of the problem which is again blaming. the reality is americans want this thing solved. we at no labels have a proposal to move forward on it. secondly, creating blocs of congress people. we were in new york with dozens of congress people and we were kicking off this no labels movement. let's come together. >> neil: i don't think it's in their dna to come together on anything? >> here is the deal. it's about how we are doing it. we have evolved to a system that is essentially not working. how can we operate in a world where we have not had a budget
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since 1997. we have $3.7 trillion budgeted. >> neil: what would happen at panera? >> i would be fired. >> neil: it's a rush, rush to avoid broaching the whole ceiling issue but think we're on these credit watch lists and having the problems we do is because we have done this nearly 50 times. that is the problem. yeah, we'll get through this ceiling scouring together with a stupid deal but there will be a 51st time and 52nd time. >> we can't live with this uncertainty. the american people can't live with this uncertainty. >> neil: the president says, it should be once a year deal. whether the president and automatically done, like a
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credit line, it's automatically increased but that automatically makes it like this? >> we're not dealing with the core issue. the core issue is what the congress agrees to spend. all the debt ceiling is paying our bills. the cow is out of barn. let's allow us to let any business would do which is pay your bills. >> neil: why is wall street not worried about this. all your worries were trumpeted, why is the street not worried? >> i think we have learned to live in this environment. the reality is we have accepted what appears to be kick the can down the street politics. >> neil: what would you and your fellow ceos do and have a
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credible debt fix, you probably would have a heart attack, but what would you do? >> it would allow us to feel more secure where we're going. we need to know the rules of the game. that is what we're asking for. i think we as citizens and not business people first. the reality is we know the problems, debt and immigration and reality as a nation when we compete against nation states, how are we going to compete if we can't solve these problems? the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders and our political class to actually solve them. >> neil: how is it that you are home to some of best? >> they are good for you. >> neil: ron shaich, just a message from wall street.
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>>. >> neil: forced out because of a phobia. a middle school teacher is suing for discrimination claiming the school district ig forward north her crippling condition. does she have a case? attorneys rebeck and faith jenkins. the teacher teaching older students and school district said she needed to teach younger students and he is a problem and
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caused a big bugaboo. >> if we have a valid phobia and valid disability then we look at the american disabilities act which says an employer that is covered and school district would be covered under this act can't discriminate against somebody that is based on the disability. she has medical documentation, but if there is a medical documentation, hey, we can't as an employer put her somewhere that would affect her disability. that is really clear-cut answer for this. i think the question here is.... >> neil: are you saying disability is kids? >> a phobia is valid and it's medicallyocumented. >> neil: it's like saying my disability is the camera. i can understand. younger kids and different story. okay, what do you think? >> even if she has a disability the school, their obligation
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is.... >> neil: disability, are we using the right term. that is disability? >> would it than classified as a disability. she is suing under the ada for age and disability discrimination. even if she has a disability. here is the thing... she as a fear of young children. however, she was new from the high school to teach seventh and eighth graders. does that qualify as young children? is she really being discriminated when she is working the school district for 35 years and they are actually getting rid of the class issue they were teaching in the high school. >> neil: so your view is grounds or no? >> i don't see any grounds here. i don't think they -- they didn't want to offer the classes in the high school so she was asked to teach seventh and eighth graders. so she is making a distinction
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between seventh and ninth grade students and when this phobia is activated. >> this is my take on this. i think there is a distinction, she was in high school. she never saw the younger students. it's not her problem teaching the eighth graders. it's the fact that she will be around kindergarteners and first graders in the school. >> neil: that is not what she said. >> she said, no, right her phobia apparently gets activated when she sees little children and as a teacher she has on to interact with younger kids. >> neil: kids are very loud and they are wacky and maybe she has grounds. you argue what? >> i argue i don't think this case is legitimate. its meritless lawsuit that is
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going to drain resources from the school district that should be allocated to the students. >> neil: out of court settlement. >> i think what she is looking for, can you place me someone else that is reasonable and accommodating. >> neil: where? >> she offered to teach through the internet and to do something in terms of some sort of counseling. >> neil: don't you find it weird that teacher doesn't like kids? >> we can't say the phobia she doesn't like them. there is medical issue, okay. i have a peanut allergy and they put me on the goober line, i can't work with peanuts. >> neil: i have no idea what you are saying. but i understand.... >> its good point. i think what we need to do is look here and say we don't want people to be discriminated against with a medical
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condition. >> neil: if we were expanding a medical condition to something like this, assign sign me up for the latest disability disorder. this is stupid. >> you have to look at the children and they are involved in this and who is speaking on mere their behalf. >> neil: where is this? >> in ohio. >> a phobia aside and say it's a medical issue because that is what the disabilities act said. >> she may have a real medical issue. >> neil: now you are both out of control. thyroid, this whole weight thing -- [ laughter ] >> and virginia may be for you for cheaper gas. they want a new transportation plan that is raising eyebrows everywhere. ÷÷
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use promo code: notme. order now and get this document shredder to keep sensitive documents out of the wrong hands-- a $29 value, free. call the number on your screen. [♪...] >>. >> neil: do any of you remember the so-called trade. this better than $6 billion trade gone bad orchestrated by a rogue trader for j.p. morgan chase and company. government has ordered steps to so it won't happen again. company has promised that compliance improvement and lapses in communication that led to this trader initiating the action on his own.
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despite the loss involved with that single trade, the company still made an excess of $10 billion in that quarter. be that as it may, j.p. morgan has paid no fine here but promised to control any errant traders and we'll keep you posted. virginia is going to love this. the governor wants to nix the gas tax in the new trappings plan. that works out to 17 cents per gallon. the average cost of a gallon is 3.28 cents so this would 3.10 in one swoop. bob mcdonald. good to have you. what reaction have you gotten? >> it's a big and novel plan. people are still evaluating it. it's a lot of use of our general
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fund money and putting money into transportation. converting the gas tax, getting rid of that and converting it revenue neutral to a sales tax which grows. gas tax has been in decline because of fuel efficiency, so people are still looking at it. we had a number of major endorsements and some conservative leaders. speaker. house is patron of the bill but there is a lot of education to do because we have to fix our transportation system in virginia. >> neil: what is interesting your colleague in louisiana, bobby jindal wants to get rid of the taxes, sales tax to compensate. isn't that kind of robbing peter to pay paul. taxes have to be paid through some monies. >> let's say prudent tax policy is based on an idea that taxing consumption as opposed to means of pronunciation like income is
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a better way to go. that is why they are looking at that in louisiana. transportation is a quality of life issue. it is a business recruitment issue, it's been insold for 20 years in virginia. i'm trying to create a conservative, principled way to do that. i would use public private partnership and put money into transportation. we still have a problem in our major metro areas, i think this is creative way, kill one tax and move it to tax that grows with economic development and that will raise more money for roads. >> neil: 17 cents a gallon you lose on the state tax on gasoline, you'll have to make up initially with a fairly substantial hike in sales taxes, aren't you? >> it goes from 5% to 5.8%. essentially a revenue neutral conversion in year one but it grows because the sales tax grows faster than the gas tax
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because of inflation. >> neil: so you don't buy the argument that a tax on consumption of any sort limits that consumption and actually brings on the slowdown that would stifle the money you would expect to get? >> no, i don't buy that. some have suggested that is why the gasoline tax is good because people buy less gas and the air is clean. that is not the policy reason. you taxing to raise revenue to provide government services. that is the purpose of it, not to create those kinds of policies. the whole goal here is to create a way to have a sustainable method of funding our roads and bridges and other transportation assets for the future so we can create more jobs, so entrepreneurs will start up here so families can spend more time with their children. that is the whole goal and in a
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way consistent with conservative principles. it's a different idea. we shouldn't be afraid of new innovative ideas. that is what the republican governors are doing and this is another idea i hope that will work. >> neil: chris christie has nixed his plans, he said the limited option and cleanup is next, is there a battle whether you are going to be a party of tax cuts or party that cools it on tax cuts or what? >> there some s some states that have chronically high taxes. new jersey would be one, chris christie has done a good job in reining in spending. i'm in very low tax state to start with. we still cut a fair number of individual taxes. so my job has been cutting spending. we cut about a billion dollars and reallocated that spending
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because we got the second lowest unemployment rate east of the mississippi. that is way we're growing. every governor has to make a decision and mine is more jobs. >> neil: and president says if it comes to the debt ceiling it's the republicans's fault. what do you think of that? >> i would say that is nonsense to some degree. for 30 years we have overspent, overpromised and overborrowed and now we are broke and bills are due. we have a democratic administration with no courage and no guts and no leadership when it comes to cutting spending and reforming entitlements and paying our bills. to use this and blame republicans, i think is irresponsible. we cannot keep borrowing at this rate. we just jumped up the national debt four trillion dollars on new year's day with no end in sight. somebody has to say enough is
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enough. i think they need to start having a serious discussion in the white house in how we are going to cut spending. >> neil: governor, thank you very much. >> all right. if he was getting all the red carpet buzz of the golden globes last night. >> oh, my god! >> you need a tremendous amount of beauty sleep and he is a gorgeous man. >> it's very motivating. >> thanks for everything, truly. >> why aren't you here? >> i thought you were my date tonight. >> neil: sorry. i do have other assignments. i wasn't there because we were getting ready for our star-studded special inaugural coverage. monday at 4:00 p.m. eastern time 8:00 p.m. on fbn also on fox business network for the big event. we're going to be going live there and other business network networks take the day off,
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♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's the same as walking a professional golf course. humana. health and well-being partner of the pga tour. >>. >> neil: sandy victims, federal workers are enjoying a free ride. one congressman says he has solution to fix both. with washington scheduled to vote on sandy package tomorrow, south carolina republican has proposed two amendments to offset the price tag by eliminating a long held perk for federal employees, free mass transit commuting benefits. unions are slamming that benefits but guy benson it's time we put the brakes on these
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free ride. you argue it would make a statement, right? >> i think the reality that needs to undergird all these conversations we have no money. we're completely out of money. we're going on $17 trillion. we borrow 40 cents on every dollar we spend at the federal level. if we are going to pass relief bills for super storm sandy, we can off set all or some of those costs or we just roll them over into this sea of red ink. what we're seeing from a few house republicans is an attempt is not to add to our debt by making some tweaks to federal benefits. acid the government sector unions are furious over this proposal. >> neil: think about it, their argument has been, even if you are to take away some of these benefits. they won't pay a fraction of the $50 billion plus costs of this
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aid package. at best, it's just a spit in the ocean, what do you think? >> $17 billion is a spit in the ocean grand scream of those things, you have to start. >> neil: $17 billion, equals the non-sandy related pork and fat included in this? >> there you go. if you are going to tighten your belt you have to started somewhere. if you allow me, i want to read the quoted from the union boss, here is her statement. many federal employees subject to a two-year pay freeze and increased pension contributions depend on public transportation to get to and from work and provide relief in commuting costs. i'm sorry, with all due respect we have an real unemployment rate of 14.4% in this country, millions of americans are out of
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work. those of us in private sector, a two-year pay freeze, a lot of us have had a de facto pay freeze or pay reduction because median household incomes are down. so i don't think you're going to get too much sympathy. we have to increase pension contributions. federal employees have what is called a define benefit pension which is virtually extinct in the private sector. >> neil: now this 401-k if you are lucky to have that? >> that is exactly right. a lot of us have costs when it comes to commuting. we saw study last year from the cbo that public sector employees government employees actually make 16% higher than private sector citizens who pay their salaries in overall come pen saying. well, we're going to have to pay more commuting costs, right
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exactly. >> neil: guy, thank you very much. >> as apple goes, so goes america. you better hope not. that is what i say.
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>>. >> neil: one of the hottest and coolest companies on the planet may be cooling down and you should be worried. apple is going to be a lot of iphones flying off of store shelves. apple shares dipping below $500 a share. now kimberly is worried that all of this may be pointed to a rotten economy. also joining us is our panel. you are worried about this, why? >> you know, apple is a very
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innovative company and we have gone through transitions with steve jobs leaving obviously. that is a transition. my concern is do they have innovation that he actually possessed. it's 3.8% of the s&p 500 and 10% of the nasdaq and down to 001 now. does that show consumers are not going to buy or replacing due to discretionary income and their fear of the overall market. think there is some correlation there. >> neil: maybe it's not quite the old times but there may be something on the horizon maybe its world economy? >> i think there are a couple of things. i think there is a lot term vision issue that still exists in the wake of steve jobs'
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death. all these products is his brainchild. we haven't seen the company on its own two feet yet. these numbers we're getting is an indication that we're getting today is troubling. this is a world's largest technology company. it sells iphones and tablets and they will sell fewer of them. the reason -- people want different options. they don't want to spend $649 for a phone, much less the way they sort of did the system that you buy an iphone and six months later you know you can get a better one and current model is going to be cut, price will be cut. >> neil: so maybe it's not an indictment of the global economy but people are reassessing things? >> it has to do a little bit with global economy. the problem is they are running
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out of rich people who can afford this phone globally. they got the market dominated. disposable income. what happens they have the u.s. market locked up. there is a lot of competition from samsung phones, but the other part of the globe is emerging markets. they are not laying out $700 for a phone through the plan like you do in america. european people can afford these phones but there is not going to be a lot of growth. asian countries, they will take a knockoff if it is cheaper. you have seen recently apple launch the mini. it's cheaper than the ipad. there is a rumor they may launch a hundred dollar phone, but for china markets. >> neil: kim, is this going beyond apple or what do you think? >> i think the overall sales. the reality in this country and
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probably others but if you forget your lunch for the day you may not go back for your lunch but i bet everybody goes back for their phone. technology is not going anywhere and top tiered market looks for options in the phones but the bottom tier looks just for the phones. maybe there won't be such a leader and be more a follower and lower cost phone for the emerging markets. >> 900 million smart phones will be sold. people are buying their phones but they want to buy them cheaper. >> right. >> neil: stick around. president's thoughts and what others thought.
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so we found a plan that can travel with us. anywhere in the country. [ male announcer ] join the millions of people who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. remember, all medicare supplement insurance plans help cover what medicare doesn't pay. and could save you thousands a year in out-of-pocket costs. call now to request your free decision guide. and learn more about the kinds of plans that will be here for you now -- and down the road. i have a lifetime of experience. so i know how important that is. >> neil: well, my compliments to major garrett. the fox turn cbs newser proved some snow what is good for the goose and the gander.
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if you are going to fault republicans to bring to us debt ceiling brink, point out that the democrats played the same game. that is not just republicans who are balking at raising the debt ceiling, that means saying that theteams did the same thing. major is pointing out to the president's face that the president has done so himself. i'm not saying, nor is major garrett, who is right or wrong but fair is fair. continuing spending debate in washington, not covering both parties fair or up fair is both. would it kill you to say that the democrats are just as obstinate for not wanting to cut spending. if republicans are adamant on taxes, democrats are adamant when they are not on spending and that's not obstructionist? point out the oddity and the time. like nancy pelosi trying to